Renovating your home can seem like a huge job. If you’ve talked to friends, family and neighbors, you’re probably treating the word renovation more like a four-letter word than one that will benefit you and your family. The problem is that renovations can be a major headache if you go about them the wrong way.
Spending months and months on a renovation can also be a major problem when it comes to your finances. While not all renovations are problematic, it’s up to you to make sure everything goes smoothly. Use this guide to learn more about how to handle a renovation the right way the first time around.
Set a Budget
No renovation job should begin before you know how much money you can spend on the project. While setting a budget can be difficult, especially since renovations impact the value of your house, most people only have a finite amount to spend.
When budgeting for a renovation, make sure you take all of the different factors into account, like what you’ll be spending in cash, putting on credit cards, and taking out loans to afford. Don’t overextend yourself even if you want major improvements for your home.
The worst thing that could happen is you end up in debt unable to pay for your renovations, forcing you to sell to recoup the money you spent.
When you’re taking on a renovation project, you need to speak with multiple contractors about your job. Different times of year, contractor schedules, and levels of experience all dictate what they’ll be charging. Along with multiple home renovation quotes, you need to check references to ensure you end up with quality work.
If a contractor can’t provide references then you need to move on to another company in a hurry.
Hire a Contractor
Many people attempt to take on renovations without the help of a contractor. While this can be done legally in many areas, depending on the job you’re doing, it’s often not a wise choice. Unless you have experience in building and construction, don’t take on renovation jobs alone.
Minor changes like updating a vanity in the bathroom, or buying new furniture are fine, but construction often requires permits and experience. Get it right the first time by hiring a professional to supervise the project from the start.